Cryptoassets are coming out of the shadows. Slowly but surely. Over the past decade or so, perhaps principally driven by huge gains (and losses) in the value of Bitcoin, there has been a palpable dawning recognition that cryptoassets, and the distributed ledger technologies (DLT) that underpin and encrypt them (such as Blockchain), are here to … Continue Reading
In an interesting twist, a federal court has revisited its earlier decision in SEC v. Blockvest, where it denied the SEC’s motion for a preliminary injunction against issuers of the BLV token, this time granting the SEC’s motion. The opinion has important implications for cryptocurrency issuers.… Continue Reading
On February 6, 2018, SEC Chairman Jay Clayton and CFTC Chairman Christopher Giancarlo provided testimony on virtual currencies to the U.S. Senate Committee on Banking, Housing, and Urban Affairs. Below we provide a summary of the written statements and testimony and analysis for participants in the virtual currency and blockchain spaces. New Possibilities, New Risks Takeaway: … Continue Reading
Bitcoin continues to appear in headlines across global news sources, as various governments and other players decide whether to deal in bitcoin and how it should be treated. In our blog post a couple of months ago, we provided an explanation of the bitcoin phenomena, and an analysis of what legal and business issues they may present in … Continue Reading
As the bitcoin community is gearing up for “Bitcoin Black Friday” on Friday, November 29, some explanation of exactly what are bitcoins and what legal and business issues they may present in the global marketplace may be helpful. As Chairman Thomas R. Carper D (DE) recently stated: Virtual currencies, perhaps most notably Bitcoin, have captured … Continue Reading
October 2, 2013: Despite the government shut down, the FBI today shut down the infamous “Silk Road” website and arrested a San Francisco resident alleged to be the site’s administrator the “Dread Pirate Roberts.” Silk Road has become renowned in recent years as an anonymous website used for trafficking in illicit substances and pirated goods … Continue Reading
